LiveNews, 24 Nov 2008
Singapore lowered its growth forecast for a fourth time this year and said the economy may contract in 2009, adding pressure on policy makers to implement more measures to avoid a prolonged slowdown.
Official figures said Singapore's GDP contracted 0.6% year-on-year in the three months to September, compared with an initial estimate of a 0.5% fall.
A recession next year would be the fourth that Singapore has suffered since independence in 1965.
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